This is a mid-cap Canadian energy producer, it's local and I follow them.
The way that RSI has formed a rising wedge makes me think there's a bearish reversal inbound for the stock.
You can see how CPG behaved on the last two pullbacks, and sentiment has taken a much bigger hit this time.
Sentiment tells me this will test the 200D EMA soon, and the RSI tells me this is ready to breakdown.
I think it's time to shop some BTO puts on this stock.
(This chart on the TSX, also on NYSE)
The way that RSI has formed a rising wedge makes me think there's a bearish reversal inbound for the stock.
You can see how CPG behaved on the last two pullbacks, and sentiment has taken a much bigger hit this time.
Sentiment tells me this will test the 200D EMA soon, and the RSI tells me this is ready to breakdown.
I think it's time to shop some BTO puts on this stock.
(This chart on the TSX, also on NYSE)